I'm Buying These Mispriced Stocks: Market Pro

Stocks rose on Thursday after a drop in jobless claims and confirmation of strong Chinese exports. Are we seeing a bounceback—and how should investors approach the markets? Mark Travis, chief executive of Intrepid Capital Funds, discussed his best plays.

“I love an environment like this—I’m like Pavlov’s dogs when the Russell or S&P are off 2 to 3 percent,” Travis told CNBC.

“I get my shopping list out and look for high-quality businesses that people are temporarily mispricing.”

Travis Likes:

ManTech — “They are a high quality service provider to the Department of Defense,” he said. “It’s grown its revenue and net income 25 percent a year since its IPO in 2002.”

Central Garden & Pet

Potlatch — “You get close to a 6 percent dividend so I get paid to wait,” he said. “And I get to own an asset that’s going up in value—lumber and plywood prices are at the highest they’ve been in the last 5 years.”